Types of credit

These services let you pay for something in instalments. e.g. Afterpay

• Personal loans

• Buy now pay later

• Home loans

• Interest free deals

Generally used to buy a house or block of land.

• Personal loans

• Buy now pay later

• Home loans

• Interest free deals

These loans are used to pay for all kinds of things – weddings, renovations, holidays or consolidating their debts

• Personal loans

• Buy now pay later

• Home loans

• Interest free deals

When you buy something on loan and the purchase is interest-free only for a certain period of time.

• Personal loans

• Buy now pay later

• Home loans

• Interest free deals

Which of the following would be a credit provider of a home loan?

• ANZ

• Noel lemming

• Smiths city

• Moola

Which of the following would be a credit provider of pay day loan?

• ANZ

• Noel lemming

• Smiths city

• Moola

Which of the following would be a credit provider of hire purchase?

• ANZ

• Noel lemming

• Smiths city

• Moola

A number between 0 and 1,000 that indicates how credit-worthy you are, and how likely you are to pay your bills on time

• Credit rating

• credit card score

• hire purchase

• interest

A card that you use to purchase goods. The money you use is loaned from bank

• Credit Card

• Debit card

• Eftpos card

A card that you use to purchase goods. The money you use is your own money saved at the bank

• Credit Card

• Debit card

• Eftpos card